Author: mutualcu

Mutual Credit Union Director, Billy Bridges Inducted Into the 2019 MS Credit Union Hall of Fame

On By mutualcuIn Uncategorized, Welcome / About MCULeave a comment

PRESS RELEASE

Friday, May 17, 2019

Billy Bridges Hall of Fame

Biloxi, Miss. (5/16/19) – – Mutual Credit Union Director, Billy Bridges has been inducted into the Mississippi Credit Union Hall of Fame. Created in 1993, the Mississippi Credit Union Hall of Fame is the state’s highest credit union honor, recognizing individuals that have devoted their life to the philosophy and success of credit unions at the local, state or national level.

Billy Bridges began his service on Mutual Credit Union’s Board of Directors in 1988, and he is still serving today. He held the position of vice-chairman for three years, and in 1993 was elected chairman, a position he held for almost 20 years.

At Mutual Credit Union, Billy was instrumental in his credit union’s expansion throughout Vicksburg and surrounding communities, including Raymond and Yazoo City. He is committed to improving all members’ financial quality of life and providing the quality services, facilities, and convenience that has resulted in Mutual Credit Union’s growth from $39 million to $215 million in assets.

Billy was elected to the Mississippi Credit Union Association Board of Directors in 1996 and is still serving today. He has served as chairman, and he is the longest serving vice-chairman in the board’s history. He is also the long-time chairman of the Personnel & Salary Committee.

An active supporter of the credit union movement, Billy has been a faithful participant in the annual Credit Union National Association Governmental Affairs Conference, and he played a significant role in rallying support in Congress for H.R.1151, the Credit Union Membership Access Act, which was signed into law in August 1998.

Billy’s 31 years of service to Mutual Credit Union and his more than 20 years of service to Mississippi’s credit unions on the MSCUA Board of Directors are characterized by his genuinely outstanding performance and countless hours of selfless service. He serves with honor and distinction and is an extraordinary ambassador for the credit union movement.

For more information about Mutual Credit Union please follow this link to our webpage. For additional questions, please contact the marketing department at marketing@mutualcu.org or by calling (601) 636-7523 ext. 1226.

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Press Release Billy Bridges Inducted into the MS Credit Union Hall of Fame

Steps 1 thru 12 to Living a Debt Free Life

On By mutualcuIn Financial Lessons, Financial Security, Saving Money, Uncategorized, Welcome / About MCULeave a comment

working on her accounts

Step One: Take Stock of Your Debt

You’re determined that this will be the year you finally pay down (or pay off) that debt. Get ready, because every month, our Do It Today plan will have you taking another step on your journey toward living a debt-free life. 

First, sit down and take stock of all your debts. Don’t let the numbers scare you; you need to do this to move forward. Get out every single credit card bill, personal loan, student loan, and any other debt you’re carrying (except your car and mortgage payments). Tally up the numbers to give yourself an idea of what you’re dealing with. 

Next, organize your debt into different categories, such as credit card debt, student debt, personal loans etc. Use a spreadsheet to list your debt, the remaining term of each loan (if applicable), the minimum payment and the interest rate.   

Finally, designate one hour each week for working on your finances. 

Step Two: Don’t dig yourself deeper

When you’ve dug yourself deep into a pit, the only way to get out is to stop digging. This month, focus on not racking up more debt. Stop using your credit cards. Skip your weekly trips that usually have you buying too many non-essentials.

Instead, start brown-bagging your work lunch and brewing your own coffee. Get into the habit of spending only on essentials so you can make real progress toward paying down that debt.

Don’t forget to make the minimum payments on every line of credit and loan you have open. Neglecting your debt will only pull you deeper into the pit.

Step Three: Negotiate a lower APR

If the majority of your outstanding debit is credit card debt, you may be spending hundreds of dollars just on interest alone. Aside from wasting money, this keeps you from moving forward and paying down your debt.

Most people don’t know you can call up a credit card company and negotiate for a lower APR. Take the time this month to do that. Explain that you are working on paying down your debt and that the interest payments are impeding your progress. You can even research competing cards and cite their interest rates in a bid for a lower APR from your current credit card company.

Lowering your interest rates will allow you to make another real step toward getting rid of debt.

Step Four: Create an emergency fund

You may be feeling impatient to start more aggressively paying down debt, but it’s important important to first create an emergency fund. If you don’t have money socked away for unexpected expenses, you’ll be tempted to use the money that’s already earmarked for your debt payments to fund this expense.

Experts recommend keeping three months’ worth of living expenses in an emergency fund, but you can start with a modest $1,000. Set up an automatic monthly or weekly transfer from your [credit union] Checking Account to your Savings Account until you have a fully padded emergency fund. This may take several months, but no worries, you can continue following the next few steps towards a debt-free life as your emergency fund grows.

Step Five: Create a budget

This month, you’re going to organize your finances. Hold onto every receipt, bill, paystub and invoice you produce throughout the month. Sometime during the last week of May, sit down with all of your paperwork and start crunching the numbers.

When you’re through, you should have all of these questions answered:

  • How much is my net monthly income?
  • How much are my monthly fixed expenses?
  • How much are my monthly non-fixed expenses?

Now that you have the numbers in front of you, work on creating a budget. Designate the necessary funds for your fixed expenses. Then, with the remaining money, determine how much you will spend in each non-fixed expense category; like groceries, clothing, entertainment, etc.

Put your minimum debt payments in the fixed-expenses category, with another category for extra debt payments in your column of non-fixed expenses.

Step Six: Trim Expenses

Now that we have a budget, let’s slim it down!

You’ve already practiced spending less thanks to Step#2 in this series. Now, it’s time to get serious about it. Take a long, hard look at the money you spend each month and find your weak spots. Where do you spend the most on unnecessary purchases? What’s your particular vice? You may even have several spending traps. How can you cut back on your daily expenses?

Any extra money you save goes toward your debt payments.

Step Seven: Create A Debt Snowball

You’ve organized your debt, you’ve set up an emergency fund and you’re working on spending less. You’re now ready to start getting rid of that debt…for good!

Choose the debt you’d like to pay down first. Financial expert Dave Ramsey suggests starting from the smallest debt and working your way up. You can also choose to start with the debt that carries the highest interest rate. Either way, once you’ve paid down the first loan or line of credit, you’ll move onto the next and continue to work your way through all remaining debt until you’re completely debt-free.

For now, paying off this debt will be your top priority. Be sure to pay the minimum payments on all other debts, but any extra money you have at the end of the month goes towards the first one. Start with the minimum payments you were making anyways, and add the money that was previously going towards setting up your savings account to create your debt snowball. Whenever possible, try to add money to your snowball to accelerate your progress.

Doesn’t this feel great? You’re on your way to a debt-free life!

Step Eight: Boost Your Income

Increase your income this month to help you pay down debt.

There are a handful of practical ways to accomplish this. For instance, consider asking for a raise or promotion at your current workplace or seeking employment elsewhere if you feel you’ve reached your maximum earning potential at the company. You can also freelance for hire, take on a side job on weekends or a seasonal job for just a few weeks a year. You might also consider offering consulting services in your particular field.

Remember: any extra money earned goes straight towards your debt snowball!

Your Turn: How did you boost your income this month? Share your success story with us in the comments!

Step Nine: Put All WindFalls In Your Snowball

Let your debt snowball grow by packing it with all your unexpected windfalls. Seasonal bonus at work? Add all or most of it to your snowball. Unexpected refund? Let it go toward paying down your debt. Birthday gift money from Great Aunt Sally? You know where it’s going!

It isn’t easy to say goodbye to an unexpected windfall, but all that extra money will help you reach your goal that much sooner.

Your Turn: Which windfalls did you pack into your debt snowball this month?

Step Ten: Make It Automatic

Now that you’re maximizing your payments toward the debt you’ve prioritized, make sure it happens by automating your payments. Set up an automatic transfer in your designated amount from your checking account or your savings account to that debt each month, and it will be well on its way to disappearing!

Your Turn: How much time can you save each month by making all of your payments automatic? Brag about it in the comments!

 

Step Eleven: Releasing in November ………………………………..

6 Ways to Save On Summer Vacation

On By mutualcuIn Just for Fun, Saving Money, Uncategorized, Welcome / About MCULeave a comment

Family packing for vacation

 

  1. Time it right. Experts say the sweet spot for cheapest flight booking is 54 days before your travel date.
  2. Clear your cache before every new flight search. This way, airlines can’t access your browser history and inflate the prices they offer you.
  3. Sweet-talk your way to savings. Ask for an upgrade at the check-in counter. About 78% of hotel guests who request an upgrade at the front desk actually get one.
  4. Never pay full price. Check sites like coupondivas.com, entertainment.com and Groupon.com for deep discounts at local eateries and entertainment centers.
  5. Freebie fun. Search local sites and blogs for write-ups about free things to do near your destination.
  6. Save your mega event for the last day. Finish your vacation on a high note by saving your most exciting event for the last day of your trip.

Your Turn: How do you save big while getting the most out of your summer vacation? Share your best hacks with us in the comments!

2019 Mutual CU Scholarship Recipients Announced

On By mutualcuIn College Tips, Uncategorized, Welcome / About MCU, Youth SavingsLeave a comment

Press Release

May 14, 2019

 

2019 Mutual Credit Union Scholarship Recipients Announced

(Vicksburg, MS): The Mutual Credit Union Scholarship Committee is pleased to announce the following High School Seniors as selected recipients in the 2019 Mutual Credit Union Scholarship Program.

Alyshia Moore – Vicksburg High School – $3,000

Alexis Lomax – Central Hinds Academy – $2,000

Jonathan Shelton – Mississippi School for Math & Science – $1,500

Emily Vandennieuwboer – Warren Central High School – $1,500

Abigail Wallace – Warren Central High School – $1,000

Reann Ponder – Warren Central High School – $1,000

2019 Mutual CU Scholarship winners collage

Each year, Mutual Credit Union offers graduating high school seniors the opportunity earn one of six scholarships to pursue higher education. Mutual has a firmly held belief that the education of our community’s youth is a solid investment in our community’s future. This year we were proud to award a total of $10,000 in scholarships to six selected recipients. We congratulate all 2019 graduating high school seniors and offer encouragement to you in all your future endeavors.

For information on the Mutual Credit Union Scholarship program, please follow this link to our web page. For questions, please contact the marketing department at marketing@mutualcu.org or call (601) 636-7523 ext. 1226.

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2019 Mutual Credit Union Scholarship Press Release

Paperless Statements – Pros and Cons

On By mutualcuIn Financial Lessons, Security, UncategorizedLeave a comment

Paperless Statements – Pros and Cons

Woman organizing papers

Switching from paper bills to paperless billing might save time, but is it worth it?  Below we will review the Pros and Cons of signing up to receive paperless statements, bills and notices.

•••Tetra Images / Getty Images

How Paperless Billing Works

When you sign up for paperless billing statements, you won’t get a credit card statement in the mail anymore. Instead, your statement will be available online, often as a PDF file that you can download, save, and print. Your credit card issuer will send an email each month you when your statement is ready.

For your convenience, some credit card issuers also include your minimum payment due and the due date in the body of the email. If you’re thinking about ditching traditional paper statements, consider the pros and cons before you make the change.

Pro: Saving the Trees

Paperless statements are good for the environment. According to the U.S. Environmental Protection Agency, the average American uses about one 100-foot-tall Douglas fir tree in paper each year. If credit card issuers send out fewer billing statements, there will be less demand for paper, which means less air pollution from paper production. Some credit card issuers have even promised to make their own contributions to environmental causes when you sign up for paperless billing.

Con: Easier to Miss Payments

One of the downsides to paperless statements is that it’s easier to forget to send your payment when you don’t have that physical bill as a reminder.

If you need a due date reminder, you can print the statement from the internet and post it where you normally put your bills. Paper is still being saved since you’re skipping the envelope and billing statement inserts.

You could also miss your due date if the credit card issuer’s emails are caught by your spam filter and never delivered in your inbox.

Make sure you add your credit card issuer’s email address to your “safe list” to prevent the emails from being automatically quarantined.

Pro: Less Mail and Paper in Your Home

The elimination of billing statements means there is less paper and clutter in your home. You’ll save time sorting through bills and figuring how what you should keep, what can be thrown in the trash, and what must be shredded.

If you download your billing statements, you can save them to your computer or external drive and access later when you need them. Most credit card issuers make several months of billing statements available online, so it’s may not be necessary to save your most recent statements.

Con: More Passwords to Remember

When you sign up for online billing, that means you’ll have yet another username and password to remember. Even if you try to use the same ones for all your sites – which generally isn’t a good idea – there are always a few sites with slightly different restrictions that will require you to come up with something different from what you normally use, something that you’re more likely to forget. And if you can’t remember your password, you’ll have to use the password recovery process to check your statement every time you forget your password.

Pro: Perks for Online Billing Statements

Some credit card issuers offer incentives to cardholders who sign up for paperless statements. For example, you may be entered into sweepstakes when you switch to paperless billing statements. Some card issuers charge a fee to send a paper statement and waive this fee when you sign up to receive your billing statement online.

Con: Less Access to Previous Statements

Credit card issuers typically only make a certain number of statements available online. If you need more than that, e.g., for tax purposes, you may have to go through a few extra steps (and could even have to pay a fee) to access older statements. You could get around this by printing your billing statement each month and filing it away so you can access it if you need to.

Pro: Identity Theft Prevention

Switching to paperless statements could help prevent identity theft resulting from stolen mail.

Since statements aren’t mailed to your home, mail thieves won’t get access to your credit card number if they intercept your mail. Even hacking your email account wouldn’t give a thief access to your credit card information since you have to log in to your credit card issuer’s website to view your statement. Emails from your credit card issuer should never contain your full account number.

Con: Delay in Catching Credit Card Fraud and Credit Card Changes

If you’ve set up an automatic payment for your account, you could easily forget to review your statements each month, a step that’s critical to catching credit card fraud. You have 60 days to report billing errors, beyond that the credit card issuer could make you pay for purchases you never made.

There’s another downside to paying without reading your statement – no alert to changes in your minimum payment. If your minimum payment increases beyond the payment you’ve set, you’ll be hit with a late fee even if the payment is made on time. After 60 days, your interest rate will increase, and the late payment status will hit your credit report.

Con: Email Address Change Notification

Just like you have to notify your credit card issuer when you change your mailing address, you should also update them with a new email address. Otherwise, you’ll miss the monthly notification that your billing statement is ready. You could also miss an email letting you know about suspected fraud on your account (but beware of phishing scams) or to alerting you to other changes to your account, e.g., a credit limit increase.

Pay Online Without Paperless Billing

Even if you choose not to sign up for paperless billing, you can pay your account online either through your bank if they offer online bill payment services or directly to the credit card issuer through their website.

 

Source Information:  https://www.thebalance.com/pros-and-cons-of-paperless-billing-statements-960230

Go paperless and save

WORD OF THE MONTH: BUDGET

On By mutualcuIn Financial Lessons, Just for Fun, Uncategorized, Youth SavingsLeave a comment

Teacher working with student

David’s friend, Mikey, had the most awesome basement ever. It had a ping-pong table, a foosball table and an air hockey table. That’s why David loved going over to Mikey’s house to play.

But David wanted an air-hockey table of his own.

“Can we get one, Mom? Please?” he asked his mom one day after coming home from Mikey’s.

Mom shook her head. “Not now, David. Air  hockey tables are fun, but they’re also expensive.”

“So what?” David cried. “Why can’t we buy something expensive, just this once?”

Mom pushed back her chair and stood up. She walked over to a kitchen drawer and pulled it open. She took a bunch of papers and checks out of the drawer and motioned for David to come join her at the table.

“Let me show you something,” she said. Mom started dividing the papers into two separate piles.

“These are our bills,” she said, patting the larger pile. “And these are our paychecks.”

Mom took out a piece paper and drew a line down the middle.

“Look, David,” she said. “On this side, I’m going to write all of our expenses and on the other side I’m going to write our income.”

“You mean like how much money you and Dad get paid?”

“That’s right,” said Mom. “I’m not going to tell you the actual numbers, just an estimate so you get an idea.”

“Why won’t you tell me the real numbers?” David was curious.

Mom smiled. “Because there are some things you don’t need to know about just yet. You’ll have to do all this when you’re older, but for now, you can learn about it without knowing the actual amounts.”

Mom started listing items:

  • Mortgage payment
  • Credit card bills
  • Phone and internet bill
  • Electric bill
  • Gas bill
  • Insurance payments
  • Car payments
  • Cable
  • Gym membership
  • Groceries

There were so many expenses! Next to each item, she put a small number.

Then she wrote a few larger numbers on the other column.

“You see this, David?” she said, holding up the paper. “This is called a budget.”

She pointed at the longer column. “This is the amount of money we need to spend on certain expenses each month.”

Then, she pointed at the shorter column. “And this is the money we have to work with each month.”

“But how do you figure out how much money you need for everything?” David asked.

“That’s where the budget comes in,” mom explained. “I set aside the amount we need for our fixed expenses—that’s stuff that costs the same amount each month—and then I set a little bit aside for the expenses that cost a different amount each month.”

“But how do you know how much to set aside if it always changes?”

“I take an average of a few months and use that number.” Mom pointed to Groceries: $350.

“But you see,” she continued, “I only have a little bit for extra expenses we don’t have all the time, like new shoes or winter coats, or household repairs.”

“And air hockey tables,” David added.

“And air hockey tables,” mom grinned. “That’s not on our budget.”

David was thinking. “But what would happen if we bought one anyway?” he asked.

“That would really mess us up this month,” Mom said. “It’s not planned, and we don’t have enough money in our budget to cover it. We might not be able to pay the electric bill this month, or make a payment on the car if we spent that money on the air hockey table. Do you understand?”

David nodded. “Does that mean there’s no way I can get an air hockey table?”

Mom laughed. “You can—just not right now! We can save up for one together. How about we build a save-up-for-air-hockey-table plan into our budget together? We can think of ways to cut back on our budget and use that extra money to put into an air hockey fund.”

“Sounds good!” David smiled.

He bent over mom’s paper and after 15 minutes of discussion and writing, they had a plan in place. It would take a few months for it to happen, but they had a plan to make it work.

David was happy that mom had taken the time to explain how budgets work. He knew he would have his air hockey table soon. After all, it was part of the budget!

Talking points:

  • Why is it so important to stick to a budget?
  • What would happen if David’s mom bought the air hockey table without a plan?
  • How long do you think it will take David and his mom to save up for an air hockey table?

7 Ways to Save Money on Camping

On By mutualcuIn Just for Fun, Saving Money, UncategorizedLeave a comment

Family camping

 

Q: I’m planning a camping trip for the summer, and I’d love to keep the trip as low-cost as possible. How can I cut down on camping costs? 

A: It’s great that you’re looking for ways to trim your vacation expenses. We can help! Read on for seven ways to save on camping costs. 

1. Save on location 

Nightly rates for camping sites can cost a pretty penny during peak camping season. But why pay the fee when you can camp for free? You can find a campground where you can pitch your tent or park your RV at no cost, on Freecampsites.net or Campendium.com. 

Another great option is to camp at a national forest. You’ll be charged an entrance fee as well as an amenity fee, but you’re free to stay anywhere on these grounds as long as you follow park guidelines. If you’re a frequent camper, consider purchasing a National Parks and Federal Recreational Lands annual pass. For just $80 a year, or $20 for individuals age 62 and older, you’ll have access to more than 2,000 national parks and national wildlife refuges. The pass covers entrance fees, parking fees, amenity fees and more. If you’re currently a member of the U.S. military, you and your dependents are entitled to a free annual pass. 

Finally, if your schedule allows, consider mid-week camping. Lots of campgrounds offer lower prices on off-peak days. 

2. Consider “workamping” 

If you don’t live near a national park and you’d love a free stay, “workamping” can be a terrific option. Lots of campsites and RV parks are now offering this choice: For a bit of hard work, you’ll be granted free access to the campgrounds. You might even walk away with some extra cash in your pocket! 

3. Rent or borrow camping gear 

High-quality camping gear such as tents, sleeping bags, camping stoves and camping clothes can cost a pretty penny. In fact, according to the American Camper Report from Coleman Company, adult campers spent an average of $546 on camping gear in 2016. 

You can have your gear and your budget, too, by double-thinking the purchase of brand-new gear. Are you a frequent camper? If not, does it really pay to spend big bucks on specialized equipment you’ll only use once or twice a year? If you have friends who practically live in a tent or RV, ask about borrowing their equipment for your trip. Otherwise, consider renting the gear you need from companies like REI Co-op. If you’d rather have your own equipment, check out sites like Switchback Gear Exchange for gently used camping paraphernalia at terrific prices. 

4. Skip the prepackaged meals 

Yes, they might be super-convenient, but they’re also super-expensive. Save a ton on food costs this trip by ditching the prepackaged meals. You can find loads of ideas for easy camping meals you can cook over a fire by doing a quick Google search. Often, all you need is some basic food supplies and a roll of aluminum foil! 

5. Share meal prep 

If you always camp as a group, take full advantage by sharing the meal prep. Divide the meals completely, having each family be fully responsible for several meals. Alternatively, you can create a master list of supplies and food and then divide and conquer. This way, only one of you needs to bring small packets of ketchup and a jug of maple syrup, while another one brings the coffee and salt. The packing and meal prep are a whole lot easier when they’re shared! 

6. Pack like you’re being marooned on an island 

Don’t set out on your trip until you’ve checked that you’ve packed everything on your list at least three times. It will take a few extra minutes, but it’s worth the time and effort. You don’t want to be forced to pay inflated small-town convenience store prices for forgotten items like bandages or batteries. 

To keep it simpler, create a master list of everything you need to bring on a camping trip. Make a digital and physical copy of the list. When you return from your trip, review the list and edit it according to how it all went down. Do you need to bring more paper cups next time? Did you overdo it on the ice? Adjust as necessary. Before your next trip, use the list when packing so that you don’t forget a single item. 

7. Check out free camping activities on your campsite 

Many campgrounds feature boat rentals of all kinds, but they can be pricey. Enjoy every minute of your camping trip by exploring walking trails, fishing and bike riding along a forest path. Don’t forget to pack some board games and books for rainy days. 

Use these tips when planning your trip and you’ll save big on costs without compromising on the camping experience. Here’s wishing you the camping trip of a lifetime, from all of us here at Mutual Credit Union! 

Your Turn: Have some camping hacks that save on costs? Share your best tips with us in the comments!

 

SOURCES:

http://bargainbabe.com/20-quick-tips-to-save-money-camping/

https://www.google.com/amp/s/www.thepennyhoarder.com/smart-money/camping-on-a-budget-how-to-save-money-on-your-next-trip/amp/

https://www.google.com/amp/s/www.budgettravel.com/article/save-money-camping/amp

https://axleaddict.com/rvs/CampingForCheapskates

FREE Community SHRED Day – May 3rd

On By mutualcuIn UncategorizedLeave a comment

Press Release

April 18, 2019

FREE Community Shred Day

(Vicksburg, MS): On Friday, May 3, 2019 the 1604 Cherry Street location of Mutual Credit Union will host a FREE Community SHRED DAY between the hours of 10:00 a.m. – 2:00 p.m. The community is welcome to bring any paper documents to be shredded on site. We have partnered with SHRED-IT of Jackson to provide this service.

Shredding important documents and paper protects important personal information from being compromised. By shredding paper down into smaller material, it can then be used within a recycle program which in turns helps to protect the environment.

Free Community Shred Day

For more information about Mutual Credit Union please follow this link to our web page. Any additional questions, please contact the marketing department at marketing@mutualcu.org or by calling (601) 636-7523 ext. 1226.

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Word of the Month: Savings Account

On By mutualcuIn Financial Lessons, Saving Money, Uncategorized, Youth SavingsLeave a comment

father and daughter counting change

Kyle’s friend Ashley was always buying new things with her own money.  Today, she’d come to school with a brand-new glittery case for her laptop.

“How’d you pay for that?” Kyle wondered out loud. “You must get a really big allowance each week!”

“Not really,” Ashley said. “My parents give me just $6 each Sunday.

“Six bucks? That’s all?” Kyle’s parents gave him $8 each week. “But that costs a ton of money! How did you pay for it?”

Ashley smiled. “I saved up for it. I put away a little bit of my allowance each week in a special place. I also saved up my birthday cash and the money I earned helping my aunt out during the summer. It all adds up!”

Kyle was interested. His allowance never lasted more than a few days but he really wanted to buy a new Wii game. His mom had told him he’d have to pay for it himself.

The next Sunday, when Kyle’s mom gave him his allowance, he carefully put all eight dollars in his sock drawer. He’d have that Wii game in no time!

On Monday afternoon, Kyle’s friends decided to make a Slurpee stop on the way home. Kyle followed the group into the 7-11 store and started reaching for an extra-large cup when he stopped. His spending money was at home in his sock drawer. He wasn’t wasting his allowance on Slurpees!

He hung back and watched his friends fill up their cups with icy treats. He was surprised to see Ashley joining the line at the register with her own small Slurpee. Didn’t she know there were more important things to spend money on than a slushy drink?

***
That afternoon, he went with his mother on a trip to Mutual Credit Union.

“What’s that?” he asked his mom as she slid a small pile of checks across the counter to the Teller.

“This is some extra money I earned this month from a side job,” Mom answered. “I’m going to put them into our Savings Account.”

She held up another check. “And this,” she said. “Is going to go into our Checking Account.”

“But why don’t you put all of the money into savings?” Kyle wondered.

“Because we need money to live on now,” Kyle’s mom explained. “Savings Accounts are for money we will probably need sometime in the future, but we need to keep some money for today.”

Kyle nodded. That made sense.

On Saturday, Kyle and his friends met up at the pizza store for lunch.

After they finished eating, Kyle’s friends started digging out quarters and dollar bills and heading towards the arcade games at the back of the store.

Kyle stayed in his seat, watching them. His mom had given him enough money for pizza, a can of soda, and fries, but none for extras like arcade games.

“Hey, Kyle!” Ashley called from behind him. She jangled a small pile of quarters in her palm. “Want to race me in the car game?”

Kyle looked at her. “I don’t have any money on me.  I’m saving it all up for something really big.”

Ashley shrugged. “So am I. But that doesn’t mean I can’t keep anything for now. If you put all your money into savings, it can get really hard and you might give up quickly.”

“So how do you do it?” Kyle asked.

“I put 2 or 3 dollars into my savings jar each week, and the rest I spend on stuff like Slurpees and ice cream.”

“That sounds easy,” Kyle said.

“It is!” Ashley grinned. “Come on, I’ll lend you some money. Are you going to race me or not?”

“Nope,” Kyle smiled. “I’m not going to race you. I’m going to win!”

Talking Points:

• Why do you think Ashley bought a small Slurpee?
• Why is it important not to put all of your money into savings?
• Why does Kyle’s mom put most of her earnings into her Checking Account?